Issue Date: Feb 15, 2008
Sri Lanka raises fuel prices: After doling out huge fuel subsidies for five months, the Sri Lankan government finally increased fuel prices on January 13. The price of petrol has increased by LKR 10 (US $10 cents) a litre to LKR 127 (US $1.2), while the new prices for diesel and kerosene have gone up by LKR 5 (US 5 cents) and LKR 2 (US 2 cents), said the state-run Ceylon Petroleum Corporation. The country last raised the fuel prices in July 2007. However, due to a political decision, it freezed the prices until the end of the year.